Oracle co-founder Larry Ellison has overtaken Tesla boss Elon Musk to claim the title of the world’s richest man, following a record-breaking surge in his fortune. According to the Bloomberg Billionaires Index, Ellison’s net worth jumped by an unprecedented $101 billion in a single day after Oracle released quarterly results that exceeded market expectations. The company’s strong performance, particularly in its rapidly expanding cloud business, pushed Ellison’s wealth to $393 billion, placing him ahead of Musk, whose current net worth stands at $385 billion.
The 81-year-old billionaire’s financial leap marks the largest one-day gain ever recorded on Bloomberg’s index. Oracle’s shares, which had already appreciated by 45 percent earlier this year, soared by an additional 41 percent after the company’s announcement of robust bookings and an optimistic outlook for its cloud infrastructure division. Ellison, who serves as Oracle’s chairman and chief technology officer, holds the majority of his wealth in the company’s stock, cementing his position at the top of the global rich list.
Musk, who first claimed the world’s richest title in 2021, had reclaimed it last year and held it for over 300 days. However, Tesla’s stock has declined by 13 percent this year, cutting into his fortune despite the company’s board proposing an ambitious compensation package that could potentially make him the world’s first trillionaire if performance targets are met. The tech mogul has previously lost the crown to Amazon founder Jeff Bezos and luxury goods tycoon Bernard Arnault of LVMH.
Ellison’s rise underscores the intensifying race among global tech giants as cloud computing, artificial intelligence, and digital infrastructure reshape corporate fortunes. His record-breaking wealth highlights the renewed investor confidence in Oracle’s growth trajectory, signaling a shifting balance of power in the billionaire rankings.
